Form
8615
Tax for Children Under Age 18 With Investment Income of More Than $1,700
Attach only to the child’s Form 1040, Form 1040A, or Form 1040NR. See separate instructions.
OMB No. 1545-0074
2006
Attachment Sequence No.
Department of the Treasury Internal Revenue Service (99)
33
Child’s name shown on return
Child’s social security number
Before you begin: If the child, the parent, or any of the parent’s other children under age 18 must use the Schedule D Tax
Worksheet or has income from farming or fishing, see Pub. 929, Tax Rules for Children and Dependents. It explains how to figure the child’s tax using the Schedule D Tax Worksheet or Schedule J (Form 1040). Parent’s name (first, initial, and last). Caution: See instructions before completing. B Parent’s social security number
Parent’s filing status (check one):
A C
Single
Married filing jointly
Married filing separately
Head of household
Qualifying widow(er)
Part I
1 2 3 4 5
Child’s Net Investment Income
1 2 3 4 5
Enter the child’s investment income (see instructions) If the child did not itemize deductions on Schedule A (Form 1040 or Form 1040NR), enter $1,700. Otherwise, see instructions Subtract line 2 from line 1. If zero or less, stop; do not complete the rest of this form but do attach it to the child’s return Enter the child’s taxable income from Form 1040, line 43; Form 1040A, line 27; or Form 1040NR, line 40. If the child files Form 2555 or 2555-EZ, see the instructions Enter the smaller of line 3 or line 4. If zero, stop; do not complete the rest of this form but do attach it to the child’s return
Part II
6
Tentative Tax Based on the Tax Rate of the Parent
7 8 9
Enter the parent’s taxable income from Form 1040, line 43; Form 1040A, line 27; Form 1040EZ, line 6; Form 1040NR, line 40; or Form 1040NR-EZ, line 14. If zero or less, enter -0-. If the parent files Form 2555 or 2555-EZ, see the instructions Enter the total, if any, from Forms 8615, line 5, of all other children of the parent named above. Do not include the amount from line 5 above Add lines 5, 6, and 7 (see instructions) Enter the tax on the amount on line 8 based on the parent’s filing status above (see instructions). If the Qualified Dividends and Capital Gain Tax Worksheet, Schedule D Tax Worksheet, or Schedule J (Form 1040) is used to figure the tax, check here
6 7 8
9
Enter the parent’s tax from Form 1040, line 44; Form 1040A, line 28, minus any alternative minimum tax; Form 1040EZ, line 11; Form 1040NR, line 41; or Form 1040NR-EZ, line 15. Do not include any tax from Form 4972 or 8814. If the parent files Form 2555 or 2555-EZ, see the instructions. If the Qualified Dividends and Capital Gain Tax Worksheet, Schedule D Tax Worksheet, or Schedule J (Form 1040) was used to figure the tax, check here 11 Subtract line 10 from line 9 and enter the result. If line 7 is blank, also enter this amount on line 13 and go to Part III 12a 12a Add lines 5 and 7 b Divide line 5 by line 12a. Enter the result as a decimal (rounded to at least three places) 13 Multiply line 11 by line 12b
10
10 11 12b 13
.
Part III
14 15
Child’s Tax—If lines 4 and 5 above are the same, enter -0- on line 15 and go to line 16.
14
Subtract line 5 from line 4
Enter the tax on the amount on line 14 based on the child’s filing status (see instructions). If the Qualified Dividends and Capital Gain Tax Worksheet, Schedule D Tax Worksheet, or Schedule J (Form 1040) is used to figure the tax, check here Add lines 13 and 15 Enter the tax on the amount on line 4 based on the child’s filing status (see instructions). If the Qualified Dividends and Capital Gain Tax Worksheet, Schedule D Tax Worksheet, or Schedule J (Form 1040) is used to figure the tax, check here Enter the larger of line 16 or line 17 here and on the child’s Form 1040, line 44; Form 1040A, line 28; or Form 1040NR, line 41. If the child files Form 2555 or 2555-EZ, see the instructions
Cat. No. 64113U
15 16
16 17
17 18
Form
18
For Paperwork Reduction Act Notice, see the instructions.
8615
(2006)